Vaultbank, a new cryptocurrency bank and exchange startup will tomorrow, Friday, November 10th be launching its token presale, before the main ICO date which takes place on December 5th. Vaultbank merges Wall Street financial portfolio expertise with machine learning (ML), artificial intelligence (AI), and cryptocurrencies. Vaultbank utilizes its own proprietary technology of ML and AI to successfully develop asset-backed credit portfolios built with strategic partner Random Forest Capital, benefiting from a credit warehouse providing leveraged returns for investors.
Vaultbank aims to be a full-service bank option for everything crypto-related. Vaultbank’s Debit Card, offered in partnership with Volopa, allows cryptocurrency investors to use their holdings as tender at all point of sale terminals. Vaultbank’s debit card also provides the ability to facilitate fiat exchanges with 17 currencies.
Members of the Vaultbank team have managed portfolios worth billions of dollars, while others have engineered some of the world’s first cryptocurrencies. The team is led on the technology side by Austin Trombley, acting as Chief Technology Officer. Austin Trombley, MBA, is an avid Data Engineer and Data Scientist, with a decade of consulting and leadership experience at seven Fortune 500 companies. He recently ran the data strategy at Prosper, which upended banks from credit, and co-founded a Quantitative Credit Hedge Fund, Random Forest Capital, which will be a strategic partner of Vaultbank as mentioned above.
The Chief Operating Officer of Vaultbank Mr. Stuart Shelly has thirty years of finance and banking experience, with expertise in large institutions (KPMG, Bank of America, BMO, GE) and entrepreneurial situations. As head of Transitional Capital Management, he serves as a Merchant Bank to identify, structure, and financial investment opportunities in specialty finance. His specialties include debt, equity, and structured finance products.
[perfectpullquote align=”full” cite=”Christopher Cummock, Managing Director” link=”” color=”” class=”” size=””]“We offer a suite of financial services to the crypto world: usability, low fees, reduced volatility, and quarterly dividends with the Vaultbank token. The internet of things is changing finance; we believe that our technology, exchange platform, and machine learning can benefit both cryptocurrencies and the financial industry.”[/perfectpullquote]
[perfectpullquote align=”full” cite=” Austin Trombley, Vaultbank CEO” link=”” color=”” class=”” size=””]”Andriy Zamovskiy is the former chief architect of Tether. Think about this token as Tether backed by secured credit assets which pays a dividend and continues to reinvest in the assets backing the token. The current market cap of Tether is 405 MM, and we are willing to bet that these same token holders would prefer asset-backed token with a dividend.”[/perfectpullquote]
A welcome announcement was made today before the start of its presale tomorrow as Vaultbank boosted its Board of Directors with three new additions. Vaultbank has introduced CJ MacDonald, Founder of Blockchain company Gyft (acquired by First Data); Ken Kroner, former CIO at BlackRock, and Keri Findley, Former Partner and Chief Credit Officer at Third Point to its board. The Board of Directors team is now stronger than ever with this additional blockchain, payment processing and high-level asset acquisition and management expertise.
Vaultbank is a cryptocurrency based financial institution, providing foreign exchange capability with crypto trading terminal Orderbook, an ER20 decentralized crypto exchange, debit card usability, and offers tokens backed by secured credit assets with quarterly Ether dividends. Vaultbank’s user platform, Orderbook, enables seamless and advanced exchange capabilities; its debit cards offer use of tokens worldwide with leading foreign exchange transaction rates. The Vaultbank token is collateralized by a portfolio of secured credit assets, which are insured to deliver robust returns translating into stability and income for investors.
Vaultbank Token Symbol: VB
- Total supply: 240,000,000
- What does this token represent: The token represents a non-voting share in the fund, and provides each Token holder an equitable interest in the underlying performance of the portfolio of credit assets.
- Investor plan: Investor Plan includes leveraging the token wallet to purchase a cash yielding loan portfolio, this will be tied equitably to each token and yielding a secured annualized yield.
- Adjustable: Non-Adjustable
- Minimum: 10M, if 10M is not raised the money will be returned to investors
- Initial price: $1.00 = 1VB token
- Pre-sale bonus: 15%
- Hard Cap: 20M pre-sale / 100M ICO
- Pre-sale: Nov 10, 2017
- Sale: Dec 5, 2017
For more information, Vaultbank’s latest presentation from this month now available, also see the company website and white paper.